Skyline set to be the first Singapore nightclub to accept cryptocurrency

Singapore nightclub Skyline announced on Tuesday (Nov 28) that it will accept cryptocurrency as payment for drinks and food during a trial run on Nov 29 and 30.

It is set to become the first nightspot in Singapore to accept crytocurrency during those dates when it hosts the official after-parties for Blockshow Asia 2017, an event for the blockchain community that’s held at Resorts World Sentosa.

Customers will be able to use their Jaxx and Ethereum Free wallets to pay with Ether using the COSS POS system in the pilot collaboration between COSS and Skyline, which is a rooftop venue at the 45th floor of Singapore Land Tower, said a statement.

Skyline operator Mr Subaish Rajamanickam told Business Insider that the club first became keen to look into cryptocurrency after the company behind bitcoin alternative Jetcoin became a title sponsor for a party held at Skyline over the F1 period this year.

Jetcoin sponsored $50,000 for the Sky Grande Prix party held at the club in September.

He said: “It immediately piqued our interest and more so now as the market sentiment and interest in general from Singapore has been surging especially over the last three months.”

“We did some research and it is our belief that things like cryptocurrencies need to find a way to exist in the physical world to have a real life application.”

He shared that a separate trial run was carried out at Skyline two weeks ago for a private party thrown by an cryptocurrency-related organisation.

Mr Rajamanickam said: “It was an invite-only party. We didn’t announce it to the media just to make sure everything worked first.”

For instance the club needed to make sure the digital currency could be converted to cash the next day and that service staff knew how to handle the payment procedure.

While everything ran like clockwork, he admitted: “It was a whole different ballgame from card and cash.”

Moving forward, the club intends to eventually handle cryptocurrency on a permanent basis and there are even plans to install cryptocurrency ATM machines on the premises as well display monitors so patrons can track the movements of the cryptocurrency market.

There is even a plan to make Thursday nights a “crypto-night” for industry players and followers.

“I think everyone wants to get in on it (cryptocurrencies) but many don’t know how. What we’re trying to do is to keep the conversation going,” he said.